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Apr 23, 2013
04/13
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debt ceiling by an equal amount. there was no tax increases in there. and so the president submits a budget. he wants to do away with the sequester and pay for it with tax increases, and that's what the democratic senate budget did also. it has increases in taxes and increases in spending, and a chunk of that was wiping owl the sequester that we just agreed to. we told the american people, look, we made a little reduction in the growth of spending, american people. forgive us for raising the debt ceiling. a lot of people didn't want to raise the debt ceiling at all. but we promised we had done something good. we were proud of ourselves. bubefore the ink was dry, the president in january submitted his budget on 2012 that wiped out those cuts. and spent more money. the and his budget this year does the same thing. the and the senate democratic budget did the same thing i mean, how can we possibly ever get spending under control if we don't comply with what we promised? so the majority leader has said, well, the war is
debt ceiling by an equal amount. there was no tax increases in there. and so the president submits a budget. he wants to do away with the sequester and pay for it with tax increases, and that's what the democratic senate budget did also. it has increases in taxes and increases in spending, and a chunk of that was wiping owl the sequester that we just agreed to. we told the american people, look, we made a little reduction in the growth of spending, american people. forgive us for raising the...
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Jun 13, 2013
06/13
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but fundamentally the bill that passed raised the debt ceiling $2.1 trillion, but it reduced spending, the growth of spending, better said, over the next ten years by $2.1 trillion. and, unfortunately, those reductions in the growth of spending fell disproportionately on the defense department. i'll mention that in a minute. but the agreement was clear. there was no tax increases, there was no other gimmicks to it other than the spending level would be reduced over ten years by $2.1 trillion. we were then spending at the level of $.7 trillion a year, which would be $37 trillion over ten. we were trying to spend $47 trillion over ten, an increase substantial from the current level. so agreement was it would reduce the growth to $45 trillion instead of $47 trillion. so that was the deal. and there was a hope that the committee would reach an even more historic agreement in which entitlements, social security, and medicare would be put on a firm foundation and we would get the country on the right track. the committee failed. they did not reach an agreement. so in law there remained the
but fundamentally the bill that passed raised the debt ceiling $2.1 trillion, but it reduced spending, the growth of spending, better said, over the next ten years by $2.1 trillion. and, unfortunately, those reductions in the growth of spending fell disproportionately on the defense department. i'll mention that in a minute. but the agreement was clear. there was no tax increases, there was no other gimmicks to it other than the spending level would be reduced over ten years by $2.1 trillion....
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Oct 10, 2013
10/13
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ok, we will vote to raise the debt ceiling. our people did not like any raising of the debt ceiling. we promised we would not spend so much. we promised we would reduce spending $2.1 trillion and a lot of cynics said congress would not adhere to that. that is exactly what the president did in january of 2012. he proposed to spend another trillion dollars above the amount of money we agreed to spend six months before. i did not really want to sign that agreement. i have taxes i want to increase. this is what is occurring. we have got to stand firm. adhere, at least, to the containment of the growth of spending that was in the budget control act. failure to do that is a capitulation in our promises to the american people, a total abandonment of any contention that we would be fiscally responsible. it is unthinkable that we would abandon the limits. the truth is, the sad truth is the budget control act reductions in the growth of spending do not come close to putting us on a firm financial footing. we are on an unsustainable debt
ok, we will vote to raise the debt ceiling. our people did not like any raising of the debt ceiling. we promised we would not spend so much. we promised we would reduce spending $2.1 trillion and a lot of cynics said congress would not adhere to that. that is exactly what the president did in january of 2012. he proposed to spend another trillion dollars above the amount of money we agreed to spend six months before. i did not really want to sign that agreement. i have taxes i want to increase....
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Oct 2, 2013
10/13
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jobs or opportunity, and get us through the debt ceiling. please, that bill is pending in the house now and i would ask that they do that instead of sending us these piecemeal solutions. i'd remind my colleagues that the continuing funding resolution passed the senate last friday. it does keep the government -- it reopens the government. it does give us the opportunity to renegotiate. we need to -- i'm willing to negotiate, but we can't cap pittualate to these -- capitulate to these partisan demands to defund obamacare and to do other kinds of riders that work against us. to move forward, we need to pass the senate continuing resolution. now, i understand that later today that the president is meeting with speaker boehner, nancy pelosi, majority leader reid and senator mcconnell. i hope that wiser heads would now prevail and we would get a path forward to reopen all of government, not cherry pick items, many of which are desirable. absolutely desirable. but we need to open the entire federal government. so i know that what the house wants to
jobs or opportunity, and get us through the debt ceiling. please, that bill is pending in the house now and i would ask that they do that instead of sending us these piecemeal solutions. i'd remind my colleagues that the continuing funding resolution passed the senate last friday. it does keep the government -- it reopens the government. it does give us the opportunity to renegotiate. we need to -- i'm willing to negotiate, but we can't cap pittualate to these -- capitulate to these partisan...
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Oct 8, 2013
10/13
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we've raised the debt ceiling $2 trillion, but we reduced spending by $2 trillion. the debt ceiling is already eased up that $2.1 trillion already. but we still made our promise that we have to honor that we'll save $2.1 trillion of growth over the next ten years. it isand that's our responsibily and our duty in my opinion. i thank the chair and would yield the floor. mr. president, let me ask consent that the next two republican senators be recognized would be senator from maine, senator collins, followed by senator from alaska, senator murkowski, and that we would continue to alternate between both sides. senator collins would be recognized at this time. the presiding officer: we'll rotate back and forth but we'll be right back to her. mr. baucus: reserving the right to object, would the senator renew his request? mr. sessions: i would ask consent the two republican speakers on this side be senator collins from maine and senator murkowski and that we continue to alternate between both sides and that since i just butted in as part of the budget debate, i want -- i
we've raised the debt ceiling $2 trillion, but we reduced spending by $2 trillion. the debt ceiling is already eased up that $2.1 trillion already. but we still made our promise that we have to honor that we'll save $2.1 trillion of growth over the next ten years. it isand that's our responsibily and our duty in my opinion. i thank the chair and would yield the floor. mr. president, let me ask consent that the next two republican senators be recognized would be senator from maine, senator...
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Oct 9, 2013
10/13
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but the president negotiated over the debt ceiling august of 2011, and we made at least a step forward. in fact, it was the most significant fiscal step this country has taken maybe in decades. and for the last two years we've actually spent less money than the year before. think about that. well, to hear people talk, they'd think the country was going to collapse. but we've had a modest reduction in spending, theansdz been good. -- and that's been good. but it's not near enough to put us 0en on a sustained path. we need to strengthen medicare and medicaid. we cannot afford the affordable care act. we have got a total misrepresentation on the affordable care act with regard to its cost. an independent auditor has told us it's going to add $6 trillion to the debt of the united states over the long term. it doesn't pay for itself. nowhere close. this is unstable financially as social security is. the presiding officer: the senator's time has expired. mr. sessions: i thank the chair and would just say, colleagues, let's keep working. maybe we can develop some ways that confront our fina
but the president negotiated over the debt ceiling august of 2011, and we made at least a step forward. in fact, it was the most significant fiscal step this country has taken maybe in decades. and for the last two years we've actually spent less money than the year before. think about that. well, to hear people talk, they'd think the country was going to collapse. but we've had a modest reduction in spending, theansdz been good. -- and that's been good. but it's not near enough to put us 0en...
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Oct 9, 2013
10/13
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over the next ten years, first we would raise the debt ceiling $2.19 trillion. then we agreed over the next ten years, we would reduce the projected growth of spending by is $2.1 trillion. one for one speaker boehner said. it gave them ten years to find the cuts. we've already borrowed over the two years borrowed it and hit the debt ceiling cap again. we have not come close to saving the $2 trillion we promised to save. and, by the way, these are not really cuts. overall, when you look at the united states budget, the united states budget was projected to increase spending from $. -- $37 trillion to $47 trillion over ten years. what the budget control ability spending -- act spending would increase from $37 trillion to $45 trillion over 10 years. that's not really a cut in spending, is it? yet, the way it's been carried out it's some department more than other, particularly defense department. and we need to adjust that. fundamentally, the reduction in the growth of spending that was part of the bca last year of not extreme, not irresponsible, and should be pres
over the next ten years, first we would raise the debt ceiling $2.19 trillion. then we agreed over the next ten years, we would reduce the projected growth of spending by is $2.1 trillion. one for one speaker boehner said. it gave them ten years to find the cuts. we've already borrowed over the two years borrowed it and hit the debt ceiling cap again. we have not come close to saving the $2 trillion we promised to save. and, by the way, these are not really cuts. overall, when you look at the...
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Jul 25, 2013
07/13
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a little bit, $2.1 trillion, in exchange for raising the debt ceiling $2.1 trillion. and now the majority party here is just blithely walking in, pretending that never happened, saying we didn't intend to pass a limb. well, why did you vote for it then if you didn't intend to pass it? we did intend to pass it. we promised the american people $2.1 trillion in reduced growth in spending, not reducing spending, just reducing the growth. the presiding officer: the senator's time has expired. mr. sessions: i thank the chair, would yield the floor. the presiding officer: the senator from maryland. mr. cardin: madam president, let me thank senator murray and senator collins for returning us to regular order, bringing an appropriation bill to the floor that is consistent with the budget resolution passed by this body. i want to also compliment, if i might, my colleague from maryland, the chairman of the appropriations committee, senator mikulski. we are returning to regular order in the united states senate. and i find it amazing. it was just a week ago that my colleagues on
a little bit, $2.1 trillion, in exchange for raising the debt ceiling $2.1 trillion. and now the majority party here is just blithely walking in, pretending that never happened, saying we didn't intend to pass a limb. well, why did you vote for it then if you didn't intend to pass it? we did intend to pass it. we promised the american people $2.1 trillion in reduced growth in spending, not reducing spending, just reducing the growth. the presiding officer: the senator's time has expired. mr....
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Jan 6, 2013
01/13
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at the heart of this debt ceiling debates is whether or not we're going to continue to reduce the deficit. i think we need to do it in a thoughtful way. and the president said as long as it's balanced he's open to the conversation. >> okay. so i'm confused because i've heard him say multiple times i am not going to negotiate over raising this debt ceiling. so are you going to negotiate? >> i can just tell you this. the debt ceiling is something that we should put behind us in a hurry. you know, it was john engler, republican governor, former republican governor of michigan now head of the business roundtable said we ought to project debt ceilings for the next four or five years and not fight over them every time they come up and newt gingrich said it was a debt loser for the republicans to choose this as an issue. i'm saying the president should not have one of these last-minute showdowns over the debt ceiling, but we should speak in honest and i think complete terms about dealing with this deficit. it truly is a challenge we haven't faced as much as we should. >> so taking the president
at the heart of this debt ceiling debates is whether or not we're going to continue to reduce the deficit. i think we need to do it in a thoughtful way. and the president said as long as it's balanced he's open to the conversation. >> okay. so i'm confused because i've heard him say multiple times i am not going to negotiate over raising this debt ceiling. so are you going to negotiate? >> i can just tell you this. the debt ceiling is something that we should put behind us in a...
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Jul 18, 2013
07/13
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in a long-term fashion the debt. out of the debt ceiling debates we have come out with things like pay-as-you-go. there have been good things to help us with that. it's important we acknowledge having healthy debate is prudent and responsible and i also want to address the second part of your opening statement, when you addressed the non-important financial institutions, specifically the implementation of the collins amendment. my concern with data going back to last week when the governor testified before the senate banking committee, he told senator johnson that with regard to postponing and delaying the rules if you testified before, he said it is to say that the collins amendment does require the capital requirements be applied to all the holding companies and supervisors. i look at the collins amendment and what concerns me is i'm afraid your hands may be tied. and that we have three different types of financial institutions here. we have the short-term funding in the long-term and insurance companies. yet we wi
in a long-term fashion the debt. out of the debt ceiling debates we have come out with things like pay-as-you-go. there have been good things to help us with that. it's important we acknowledge having healthy debate is prudent and responsible and i also want to address the second part of your opening statement, when you addressed the non-important financial institutions, specifically the implementation of the collins amendment. my concern with data going back to last week when the governor...
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Oct 10, 2013
10/13
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our debt, and help our economy grow. this is the sixth time in five years that president obama has requested an increase in the debt ceiling. how much is he asking for? according to the majority leader, i understand it's $1 trillion to extend between now until after the 2014 election. that's an incredible amount of money, and just trying to figure out how much money that is, it's over $1 million a minute. $1 million every minute between now and 14 months from now. the president needs to realize that's unsustainable. we have a $17 trillion debt. it's a debt on the back of our children and our grandchildren. when we have families all across the country that have aspirations, anxiety and anger about the idea that their children and grandchildren will be able to get careers, get jobs. if we as a nation are going to incur more debt, we also have to find real savings. we cannot continue to increase our credit card debt, another new credit card after the president has maxed out the last one and then just send that bill to the a
our debt, and help our economy grow. this is the sixth time in five years that president obama has requested an increase in the debt ceiling. how much is he asking for? according to the majority leader, i understand it's $1 trillion to extend between now until after the 2014 election. that's an incredible amount of money, and just trying to figure out how much money that is, it's over $1 million a minute. $1 million every minute between now and 14 months from now. the president needs to realize...
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Mar 21, 2013
03/13
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and we agreed to raise the debt ceiling ceiling $2.1 trillion ae agreed to reduce spending over ten years, $2.1 trillion. before the ink was dry, the president was proposing to eliminate the cuts he agreed to. he's been fighting to eliminate those cuts from the beginning. and they're really not cuts. they're simply -- if they were properly applied, it would reduce the growth of spending and not cut spending actually at all. so the committee that was supposed to find all the cuts failed. the sequester came into law. it's an antimilitary provision. it was put in by jack lew, a very liberal member of the president's, at that time, chief of staff for offic office of mot and budget. the president seems to be quite happy to see these cuts fall on the defense department. he seems to be happy to have this happen. why do you say that? i say, because he's done nothing to philadelphia it. -- to fix it except demand something that he has no right to demand. that is, to violate this agreement and raise taxes and spend more. and that's not going to happen. congress is not going to vote to violate the a
and we agreed to raise the debt ceiling ceiling $2.1 trillion ae agreed to reduce spending over ten years, $2.1 trillion. before the ink was dry, the president was proposing to eliminate the cuts he agreed to. he's been fighting to eliminate those cuts from the beginning. and they're really not cuts. they're simply -- if they were properly applied, it would reduce the growth of spending and not cut spending actually at all. so the committee that was supposed to find all the cuts failed. the...
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Apr 23, 2013
04/13
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during these five months let's figure out a better way to go forward with our efforts to reduce the debt. i think that's reasonable, would be fair and give us time to do something. certainly with the debt ceiling coming up and other major issues that we have to deal with here, i think we should lessen not only the impact of the problems we have at airports around america, but also, mr. president, we also should have to focus on -- i repeat -- little boys and girls, old men and women who are losing meals on wheels, their only hot meal of the day. so i think we should do that, mr. president, look at this sequestration, take a time-out. i would now recognize that my friend from north dakota is going to give her maiden speech, and we're all anxious to hear what she has to say. mr. heitkamp: mr. president? the presiding officer: the senator from north dakota. mr. heitkamp: first off, i want to thank all of my colleagues who came here today to watch my perform my first, or offer my first speech on the floor of the united states senate. it's a great group, and it's a bipartisan group, and i thi
during these five months let's figure out a better way to go forward with our efforts to reduce the debt. i think that's reasonable, would be fair and give us time to do something. certainly with the debt ceiling coming up and other major issues that we have to deal with here, i think we should lessen not only the impact of the problems we have at airports around america, but also, mr. president, we also should have to focus on -- i repeat -- little boys and girls, old men and women who are...
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May 5, 2013
05/13
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how is it that we can even think about raising the debt ceiling? coming from someone who has to be scrupulous with money, how can we be spending all this money when we are trying to reduce the debt, not increase it? ceiling is notbt about increasing the debt, it is about -- guest: the debt ceiling is not about increasing the debt, it is about paying the debt we have already incurred. when the issue comes up they say that we risk of defaulting on that debt, which would crash the economy. host: let me get back to syria, which mentioned. we only talked about it briefly. this is from "the new york times." the talk about the off the cuff line from obama on syria. what is next, now that the chemical weapons are out there, the white house is in a bit of a pinch on this? guest: they really are. a fascinating piece from the times, what worked out behind the scenes were not exactly what the president was doing. as they found in the press conference on tuesday, but knowing more about the chain of custody this is not about boots on the ground. no one wants tha
how is it that we can even think about raising the debt ceiling? coming from someone who has to be scrupulous with money, how can we be spending all this money when we are trying to reduce the debt, not increase it? ceiling is notbt about increasing the debt, it is about -- guest: the debt ceiling is not about increasing the debt, it is about paying the debt we have already incurred. when the issue comes up they say that we risk of defaulting on that debt, which would crash the economy. host:...
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Feb 28, 2013
02/13
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trillion and we will raise the debt ceiling $2.1 trillion. the good news for those who want to keep spending was we spread the spending cuts over ten years, but that we have already reached the debt ceiling again. we have already spent $2 trillion more than we take in already. we have got to deal with that again very, very soon. so what i would say is to my colleagues that that agreement called for no tax increases, it calls for a modest reduction in the growth of spending, something like instead of spending going on $10 trillion, it would go up $8 trillion. instead of adding $9 trillion to the debt of the united states of america, we would add $7 trillion to the debt of america by simply constraining the rate of growth and spending, not really cutting spending. except the way the sequester part of that agreement was reached, the cuts fell disproportionately on defense and maybe a few other programs and over ten years defense would take a real cut. and this isn't more costs. this is the fundamental problem there. so what i would say to my col
trillion and we will raise the debt ceiling $2.1 trillion. the good news for those who want to keep spending was we spread the spending cuts over ten years, but that we have already reached the debt ceiling again. we have already spent $2 trillion more than we take in already. we have got to deal with that again very, very soon. so what i would say is to my colleagues that that agreement called for no tax increases, it calls for a modest reduction in the growth of spending, something like...
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Sep 18, 2013
09/13
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ceiling, which puts the economy at risk. so that's what we're talking about here, and i hope that some folks come to their senses because we can have debates about -- and should have debates about reducing spending, about how to do that, how to do it in a bipartisan fashion, how to reduce spending like a business does, how to reduce spending like a family does. but does it make any sense to -- to do this kind of high wire act. and this is very dangerous for the economy. and this isn't theoretical. we had a dry run, unfortunately. we had a rehearsal of this, if you want to say that, in 2011 where we didn't go over the line, we didn't default, but we came very close. we came within days of defaulting. that alone, getting close to that alone had an adverse impact on the economy. so this is -- to say this is fiscally reckless is a vast understatement. i don't know how you express it beyond saying that. to say that it's dangerous for the economy, for jobs, for families, for the middle class, for companies all over the country, to
ceiling, which puts the economy at risk. so that's what we're talking about here, and i hope that some folks come to their senses because we can have debates about -- and should have debates about reducing spending, about how to do that, how to do it in a bipartisan fashion, how to reduce spending like a business does, how to reduce spending like a family does. but does it make any sense to -- to do this kind of high wire act. and this is very dangerous for the economy. and this isn't...
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Jan 22, 2013
01/13
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in addition to it being alleged that it's irresponsible not to raise the debt ceiling, sometimes it's suggested that it's not compassionate to not spend money. where is the compassion in spending money that we don't have that's being borrowed and will have to be repaid by future generations of americans, kids and grandkids? our country is facing enormous fiscal challenges that if left unchecked will have a disastrous impact on the future of our nation. the simple truth is that government is spending more than it's taking in, and this pattern must not, cannot in fact continue. during the last two years alone the government has spent more than $7.3 trillion and increased the nation's debt by more than $3.2 trillion. we didn't get into this situation overnight. it's been years in the making. our staggering national debt and deficits are the responsibility of many congresses and presidents from both political parties who have allowed us to live well beyond our means for far too long. americans deserve leadership in washington to confront these fiscal challenges and fight for the future of
in addition to it being alleged that it's irresponsible not to raise the debt ceiling, sometimes it's suggested that it's not compassionate to not spend money. where is the compassion in spending money that we don't have that's being borrowed and will have to be repaid by future generations of americans, kids and grandkids? our country is facing enormous fiscal challenges that if left unchecked will have a disastrous impact on the future of our nation. the simple truth is that government is...
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Dec 18, 2013
12/13
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all attached to a debt ceiling inquiry. ceiling legislation is the time that brings us all together and get the president's attention, which with this president when it comes to reducing spending is a bit of a challenge. i cannot imagine it being done claim. we will have to see if the house once to add to it as a condition of passing it. host: harry reid and mitch inonnell, up for reelection 2014, yesterday weighing in on the next fight of raising the debt ceiling, which could happen in february when the treasury runs out of money to pay its bills. on the two-your budget deal, the washington times reports this -- there are a group of senators think it aired i daring cuts to retirement pay. post" reportsn on that -- inside the story they say according to house budget aides, it will reduce pay by almost six percent, by a man who enlisted at age 18 and retired age 38. 1.26ng him with one million instead of 1.24. this an issue that could be returned to in january. (this morning. democratic caller. what is on your mind. they did
all attached to a debt ceiling inquiry. ceiling legislation is the time that brings us all together and get the president's attention, which with this president when it comes to reducing spending is a bit of a challenge. i cannot imagine it being done claim. we will have to see if the house once to add to it as a condition of passing it. host: harry reid and mitch inonnell, up for reelection 2014, yesterday weighing in on the next fight of raising the debt ceiling, which could happen in...
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Oct 2, 2013
10/13
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wealth have a debt ceiling followed by something else followed by something else. i want to thank our fellow workers for what you do every day for our country. it dealing with the health care needs of our service. predicting the weather which is important today. we know what can happen. the science that leads some so much of our technology in this country and dealing with the protection of our environment. you're on the front line. i mu tell you, you're not responsible for the problems of this country, yet you have endured three years of pay freeze and furlough under screes ration. you have endured hiring freezes. they have do more with less. and you're the victim of the government shut down along with the economy of our country. our first objective is to get back to work. to dot important work on behalf of the american people. we have also filed -- i'm proud of my colleagues here have joined us in legislation that will hold our federal workers through this shut down so they'll get the full pay during the period of time. that's the least we can do when we reopen th
wealth have a debt ceiling followed by something else followed by something else. i want to thank our fellow workers for what you do every day for our country. it dealing with the health care needs of our service. predicting the weather which is important today. we know what can happen. the science that leads some so much of our technology in this country and dealing with the protection of our environment. you're on the front line. i mu tell you, you're not responsible for the problems of this...